Hindalco: Elliott Wave Analysis

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Hindalco Weekly chart


Prices which were moving in  a falling channel and broke below it has now finally re-entered the channel, this opens positive possibilities.

As per wave theory, prices faltered in a three wave structure which was complex esp. at the earlier correction. Later on it was clear and completed wave c near to 100% of wave a to wave b. As of now it is moving in impulse fashion in which there is still room for it to move a bit higher before starting wave ii lower.

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